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Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
 Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from shipbroker Allied Shipbroking, “mixed messages coming out of the secondhand dry bulk market this past week, with buyers and sellers seemingly split into two distinct camps, as the freight market gains momentum though still lacks to reach freight levels that can be considered long-term sustainable against the average OPEX levels noted in the market. On the back of all this, rumors had started to circulate that we had begun to see deals being concluded at slightly firmer prices compared to similar tonnage concluded a few weeks prior”.
According to Mr. George Lazaridis, Allied’s Head of Market Research & Asset Valuations, “the truth is that there has been increased resistance noted amongst sellers these past couple of weeks, while some buyers are expressing the opinion that the market is starting to turn, something that can to some extent be reflected by the fact that there has been a considerably increase in the number of active buyers taking on vessel inspections, a fact that on its own could drive prices up once again as competition amongst them heightens. Expectations have long been that we would see a recovery in secondhand asset prices long before earnings reach any sense of “lucrative”. This has mainly been in part due to the fact that given prices have reached well below anything seen during the past 25 years or more, there have been many in angst to take up buying options, feeling that there is a significant potential in asset price gains to be made once the market rebalances. The buy low – sell high strategy has always been a major part of the strategy composed by most Greek buyers as well as prominent shipowners around the world. As such there have been a growing number of suiters waiting in the background hoping to strike at the point where they believe would be the absolute bottoming of the market”.
Allied’s analyst also noted that “this distressed asset purchasing strategy has occurred several times in the past, sometimes to disappointing result (as an example one may look at the buying spree that took place during 2013), with even prominent distressed debt investors misjudging the downturn and as a consequence acting on prices which would later prove to be at considerable underestimates as to how low freight rates and prices could go. Sure it seems now as if prices and rates have been squeezed to their lowest if not fairly close to their lowest possible levels and even so, the given the past mismatched timing and more dire freight market conditions has led most buyers to take a more cautionary view up until now. It does feel however that we may well be close to the turning point in buyers sentiment, while it will only take a few in number to hastily pull the trigger in outbidding their competition with considerable premiums on last done, to eventual drive the rest of the buyers currently in the market into a buying frenzy and driving a rally (even a small one) out of their fear that they may have “missed the market buying opportunity” and have been left behind”.
According to Lazaridis, “there are other factors as well that will surely play their role during the current market. Recent trends in FOREX movements have supported the resistance provided by sellers at these price levels, while given the fact that earnings have shown a fairly good improvement over the past couple of weeks most sellers will be entering any negotiation with a completely different sentiment as to what their counterparts had done a month back. As a final note, it will be interesting to see if this upward pressure materialises in full and if it does, how well it will be able to feed a positive upward momentum under low freight market conditions and more specifically during courses in the year which are typically seasonal lows in the freight market, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
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- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
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